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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (290)	5/6/1998 11:36:00 PM
From: Don Roberts	Read Replies (1) \| Respond to of 1383

A LLP in NV is only cheaper to set up than in CA ($85 per year vs. $800), and they have liberal tax laws there. Also, the General partner cannot be sued and is not liable for any mishaps, which is not the case in CA. We are forming a LLP rather than a corporation because it is simpler to set up, and it has the advantage of pass-trough taxation to the members. It just seems the most logical way to proceed ... besides, most investment clubs are formed in the form of a LLP (according to this book that I have called "The Investment Club Book"). There is no income tax in NV, so once I move to FLA, there isn't any there either. Ciao, Don